Mubasher: The price of Kuwait’s crude oil declined by $1.67 on Tuesday to reach $64.62 per barrel (pb) from $66.29 pb on Monday, according to the latest data showed by the Kuwait Petroleum Corporation (KPC).

Noteworthy, global oil prices’ losses widened by 5% at Tuesday’s settlement, amid worries over lower global demand despite the OPEC’s agreement of production cut.

Oil prices fell as trade tensions returned after the US threat of imposing additional tariffs on European goods valued at $4 billion, in addition to the recent data released showing weak industrial activity.